JE Cleantech lost $794,934 after a fake DTC email redirected a dividend wire

JE Cleantech Holdings Limited (Nasdaq: JCSE) lost USD 794,934.04 (about S$1,009,000) after a fake Depository Trust Company email redirected a cash-dividend wire. On February 7, 2026 (Singapore time), the company discovered the theft while trying to pay a dividend it had already declared: an email purporting to be from DTC carried false wire instructions, the money went where the email said, DTC never received it, and street-name shareholders didn’t get paid.

JCSE reported the theft to the FBI’s Internet Crime Complaint Center and the Singapore Police Force, plus the sending and receiving banks. In a later 6-K/A it confirmed that on February 20 it re-transmitted the US$0.44-per-share dividend to its transfer agent, and by February 24 the transfer agent confirmed shareholders of record had been paid.

An email that says it’s DTC is still an email. Wire instructions for a dividend deserve a channel you opened yourself.

If you want a plain read on whether strangers can email as your company — spoofcoach.com. Free.